Define: Unfunded Liabilities
What does "Unfunded Liabilities" mean? The meaning differs based on the contract. We found 6 definitions across 4 companies in SEC filings.
Definition 1 (CARDINAL HEALTH INC, seen in 1 filing)
Unfunded Liabilities means the amount (if any) by which the present value of all vested and unvested accrued benefits under all Single Employer Plans exceeds the fair market value of all assets allocable to such benefits, all determined as of the then most recent valuation date for such Plans using PBGC actuarial assumptions for single employer plan terminations.
Source: CARDINAL HEALTH INC 8-K
Definition 2 (EXELON CORP, seen in 1 filing)
Unfunded Liabilities means the amount (if any) by which the present value of all vested nonforfeitable benefits under all Single Employer Plans exceeds the fair market value of all assets of such Plans allocable to such benefits, all determined as of the then most recent valuation date for such Plans using PBGC actuarial assumptions for single employer plan terminations.
Source: EXELON CORP 10-K
Definition 3 (EXELON CORP, seen in 1 filing)
Unfunded Liabilities means (i) in the case of any Single Employer Plan, the amount (if any) by which the present value of all vested nonforfeitable benefits under such Plan exceeds the fair market value of all Plan assets allocable to such benefits, all determined as of the then most recent actuarial valuation date for such Plan using the actuarial assumptions set forth in the most recent actuarial valuation report for such Single Employer Plan, and (ii) in the case of any Multiemployer Plan, the Withdrawal Liability that would be incurred by the Controlled Group if all members of the Controlled Group completely withdrew from such Multiemployer Plan.
Source: EXELON CORP 10-K
Definition 4 (EXELON CORP, seen in 1 filing)
Unfunded Liabilities means (i) in the case of any Single Employer Plan, the amount (if any) by which the present value of all vested nonforfeitable benefits under such Plan exceeds the fair market value of all Plan assets allocable to such benefits, all determined as of the then most recent evaluation date for such Plan, and (ii) in the case of any Multiemployer Plan, the withdrawal liability that would be incurred by the Controlled Group if all members of the Controlled Group completely withdrew from such Multiemployer Plan.
Source: EXELON CORP 10-K
Definition 5 (Eaton Corp plc, seen in 1 filing)
Unfunded Liabilities means with respect to any Plan at any time, the amount (if any) by which (a) the value of all benefit liabilities under such Plan, determined on a plan termination basis using the assumptions prescribed by the PBGC for such purpose, exceeds (b) the fair market value of all Plan assets allocable to such benefit liabilities.
Source: Eaton Corp plc 8-K
Definition 6 (Salesforce, Inc., seen in 1 filing)
Unfunded Liabilities means the amount (if any) by which the present value of all vested and unvested accrued benefits under all Plans exceeds the fair market value of all such Plan assets allocable to such benefits, all determined as of the then most recent valuation date for such Plans using PBGC actuarial assumptions for single employer plan terminations.
Source: Salesforce, Inc. 8-K
Data extracted from 6 SEC EDGAR filings across 4 companies. Source: Material contracts (Exhibit 10) filed under Regulation S-K.
This page presents definitions found in actual SEC filings for informational purposes. The specific definition appropriate for your contract may vary based on jurisdiction, industry, and specific circumstances. Consult with a qualified attorney for legal advice.